By Rob Nichols, ABA president and CEO

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​“We applaud today’s bipartisan vote in the Senate Banking Committee in support of Kim Reed to serve as president of the Export Import Bank.

“As the official export credit agency of the United States, Ex-Im Bank plays a crucial role in boosting U.S. exports in support of our economy. The lack of board quorum has stalled nearly $43 billion in transactions – projects that could support an estimated 250,000 U.S. jobs and improve the competitiveness of the U.S. business community.

“An agency with such an important mission deserves to have someone committed to its successful execution. After working alongside Kim at the Department of Treasury, I am confident she has the leadership and vision to take Ex-Im to the next level.

“We urge the Senate to consider her nomination quickly so the Ex-Im Bank can return to its full functionality.”

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The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend nearly $10 trillion in loans.